Fraud Is on The Rise Heres How to Protect Your Business

1. Fraud Is on The Rise —Here’s How to Protect Your Business Online fraud has risen dramatically over the years. The rise of individuals with digital skills – and those who can utilize them for more unsavory activities – has meant that more people than ever are getting scammed by fraudsters. In this article, we’ll outline several measures to helpprotect your business from cybercriminals, including various preventative steps you can take to keep your data, company, and employees secure.

2. Protect and separate your bank accounts One of the ways you can safeguard your business is to protect and separate your personal and business bank accounts. In the first instance, ensure you’re signing up with a reputable bank account. The top banks will have strong regulations in place already, while there are several challenger banks that also have a good reputation when it comes to keeping your data and financial information safe. Keeping a good track of the activity in both bank accounts is a good habit to get into as it will help you notice any irregularities which may be signifiers of a potential breach in security. Remember not to share your pins with anyone you don’t trust! Tamper-proof business stationery When considering your business stationery, ensure you invest in a tamper-proof version when it comes to stationery like voucher checks and the like. They’re great ways to keep track of deductions and payment details to simplify your record keeping. And having that information accurate and on hand should you experience a data security issue is really helpful. Employee background checks Of course, you always want to be able to trust your employees. But when it comes to best business practices, and for peace of mind, you will want to perform employee background checks before bringing people on board. These can include DBS checks as well as various reference checks. Ensure to request these from potential employees before interviews as you don’t want to waste your time if they can’t provide the right information that will keep you safe.

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